TON Momentarily Pumps Following Telegram CEO Pavel Durov’s Release
Previously on August 24, 2024, Telegram CEO Pavel Durov was arrested at Paris Le Bourget Airport by French authorities. This arrest was caused by a preliminary investigation on Pavel Durov and Telegram’s involvement in illegal criminal activities. The case is related to the platform’s failure to check illicit activities on it such as drug trafficking and distribution of child porn.
During his detainment, nations such as Russia and the UAE requested France to promptly release him and to abide by Human Rights laws. Relations between the nations are stressed in this arrest as tensions between Moscow and Paris rise, according to Russian Foreign Minister Sergei Lavrov.
Additionally, the UAE has suspended its deal to purchase fighter jets from France in protest to the arrest of Pavel Durov. This 10 billion euro deal was meant to purchase 80 fighter jets. In a press release, the United Arab Emirates' Foreign Ministry requested that France grant UAE citizen Pavel Durov, who is being held in Paris, access to all required consular services.
The sudden news prompted a 12% rally in The Open Network (TON), a layer-1 blockchain that operates in Telegram. However, it has currently retracted back down as Pavel Durov will still face court hearings where Pavel will face the court over allegations that the platform was used for illegal activities.